The European Union has agreed on a 14th package of sanctions against Russia over its war in Ukraine, including their first restrictions on Russian gas, diplomats say. The package bans the re-export of Russian liquefied natural gas (LNG) in EU waters, but stops short of banning imports, as the bloc did in 2022 for Russian seaborne oil.
While some EU countries still import pipeline gas from Russia via Ukraine, experts say the measure on LNG re-exports will have little impact, as these trans-shipments represent only around 10% of total Russian LNG exports. The package also sanctions three Russian LNG projects and includes a clause designed to allow Sweden and Finland to cancel Russian LNG contracts.
The new sanctions package aims to further restrict Russia’s access to key technologies and strip the country of additional energy revenues. It also tightens measures against the “shadow fleet” moving Russian oil outside the price cap set by the Group of Seven (G7) nations. The package adds tankers to the list of sanctioned entities, as well as at least two Russian-owned ships moving military equipment from North Korea.
Overall, the 14th package includes 47 new entities and 69 individuals added to the EU sanctions list, bringing the total to 2,200. The package is expected to be formally approved when EU foreign ministers meet on Monday.